Milk Bank Inc
Milk Bank Inc shows consistent revenue and asset growth with no reported officer compensation.
EIN: 201662573 · Indianapolis, IN · NTEE: E60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $2.0M |
| Program Spending | 85% |
| Net Assets | $2.9M |
| Transparency Score | 90/100 |
Is Milk Bank Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Milk Bank Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Milk Bank Inc
Milk Bank Inc (EIN: 201662573) is a nonprofit organization based in Indianapolis, IN, classified under NTEE code E60. The organization reported total revenue of $3.3M and total assets of $4.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Milk Bank Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Milk Bank Inc is a mid-size nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 15.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.9M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$892K |
| Total Assets | $4.0M |
| Total Liabilities | $1.2M |
| Net Assets | $2.9M |
| Operating Margin | 30.6% |
| Debt-to-Asset Ratio | 29.1% |
| Months of Reserves | 24.0 months |
Financial Health Grade: A
In 2023, Milk Bank Inc reported a surplus of $892K with revenue exceeding expenses, holds 24.0 months of operating reserves (strong position), has a debt-to-asset ratio of 29.1% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Milk Bank Inc's revenue has grown at a compound annual growth rate (CAGR) of 15.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.4% | +0.7% | +27.5% |
| 2022 | +19.8% | +17.9% | +100.0% |
| 2021 | +27.4% | +23.1% | +35.6% |
| 2020 | +14.4% | +3.2% | +30.3% |
| 2019 | +7.1% | -7.4% | +8.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Milk Bank Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Milk Bank Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $892K, with revenue exceeding expenses.
- Debt-to-asset ratio: 29.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and revenue, suggesting that executive compensation may be reported under other expense categories or that leadership is entirely volunteer-based.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Milk Bank Inc's IRS 990 filings:
- Unusually low or 0% reported officer compensation, which may obscure full executive compensation details.
Strengths
The following positive indicators were identified for Milk Bank Inc:
- Consistent and strong revenue growth over the past decade, from $1,334,414 in 2014 to $2,916,030 in 2023.
- Significant asset accumulation, growing from $809,464 in 2014 to $4,041,879 in 2023.
- Positive net income in most recent years, indicating financial sustainability (e.g., $2,916,030 revenue vs. $2,024,149 expenses in 2023).
- Strong program focus implied by the NTEE code E60 (Blood, Organ & Tissue Banks) and efficient spending.
Frequently Asked Questions about Milk Bank Inc
Is Milk Bank Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Milk Bank Inc (EIN: 201662573) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Milk Bank Inc spend its money?
Milk Bank Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Milk Bank Inc tax-deductible?
Milk Bank Inc is registered as a tax-exempt nonprofit (EIN: 201662573). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Milk Bank Inc's spending goes to programs?
Milk Bank Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Milk Bank Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Milk Bank Inc is above average for NTEE category E60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Milk Bank Inc located?
Milk Bank Inc is headquartered in Indianapolis, Indiana and files with the IRS under EIN 201662573. It is classified under NTEE code E60.
How many years of IRS 990 filings does Milk Bank Inc have?
Milk Bank Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.3M in total revenue.
Is Milk Bank Inc a good charity?
Based on its consistent revenue growth, increasing assets, and positive net income in recent years, Milk Bank Inc appears to be a financially healthy and well-managed charity. The lack of reported officer compensation is a unique aspect that could be viewed positively for resource allocation to programs, assuming all compensation is transparently disclosed elsewhere.
How has Milk Bank Inc's financial health changed over time?
Milk Bank Inc has shown significant financial improvement, with revenue nearly doubling from $1,433,619 in 2019 to $2,916,030 in 2023. Assets have also grown substantially from $896,735 in 2019 to $4,041,879 in 2023, indicating strong financial growth and stability.
What is the significance of 0% officer compensation?
A 0% officer compensation indicates that no salaries or other compensation were reported for officers, directors, trustees, or key employees on the IRS Form 990, Part VII. This could mean that these roles are entirely volunteer, or that compensation is reported under different expense categories, which would warrant further investigation for complete transparency.
Filing History
IRS 990 filing history for Milk Bank Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Milk Bank Inc's revenue has grown by 539.7%, moving from $456K to $2.9M. Total assets increased by 4239.9% over the same period, from $93K to $4.0M. Total functional expenses rose by 344%, from $456K to $2.0M. In its most recent filing year (2023), Milk Bank Inc reported a surplus of $892K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $4.0M in assets (debt-to-asset ratio: 29.1%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.9M | $2.0M | $4.0M | $1.2M | — | View 990 |
| 2022 | $2.5M | $2.0M | $3.2M | $1.2M | — | View 990 |
| 2021 | $2.1M | $1.7M | $1.6M | $122K | — | View 990 |
| 2020 | $1.6M | $1.4M | $1.2M | $109K | — | — |
| 2019 | $1.4M | $1.3M | $897K | $93K | — | View 990 |
| 2018 | $1.3M | $1.4M | $825K | $99K | — | View 990 |
| 2017 | $1.2M | $1.4M | $920K | $83K | — | View 990 |
| 2016 | $1.4M | $1.4M | $1.1M | $56K | — | View 990 |
| 2015 | $1.5M | $1.3M | $1.1M | $60K | — | View 990 |
| 2014 | $1.3M | $993K | $809K | $26K | — | View 990 |
| 2013 | $973K | $788K | $470K | $29K | — | View 990 |
| 2012 | $808K | $586K | $275K | $19K | — | View 990 |
| 2011 | $486K | $496K | $70K | $36K | — | View 990 |
| 2010 | $456K | $456K | $93K | $49K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.9M, expenses of $2.0M, and assets of $4.0M (revenue +16.4% year-over-year).
- 2022: Revenue of $2.5M, expenses of $2.0M, and assets of $3.2M (revenue +19.8% year-over-year).
- 2021: Revenue of $2.1M, expenses of $1.7M, and assets of $1.6M (revenue +27.4% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.4M, and assets of $1.2M (revenue +14.4% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.3M, and assets of $897K (revenue +7.1% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.4M, and assets of $825K (revenue +11.3% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.4M, and assets of $920K (revenue -13.2% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.4M, and assets of $1.1M (revenue -7.3% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.3M, and assets of $1.1M (revenue +12.0% year-over-year).
- 2014: Revenue of $1.3M, expenses of $993K, and assets of $809K (revenue +37.2% year-over-year).
- 2013: Revenue of $973K, expenses of $788K, and assets of $470K (revenue +20.4% year-over-year).
- 2012: Revenue of $808K, expenses of $586K, and assets of $275K (revenue +66.2% year-over-year).
- 2011: Revenue of $486K, expenses of $496K, and assets of $70K (revenue +6.6% year-over-year).
- 2010: Revenue of $456K, expenses of $456K, and assets of $93K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Milk Bank Inc:
Data Sources and Methodology
This transparency report for Milk Bank Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.